According to BlockBeats, economic data last week showed that the US economic data returned to the state at the beginning of the first quarter, with GDP revised down, consumption declining, global inflation momentum unexpectedly picking up, and the eurozone HICP re-accelerating to 2.9% year-on-year. The slowdown in US economic data is now too widespread to ignore, with the Atlanta Fed's GDP forecast now falling below 2%, and real disposable income growth slowing to below 1%.
Macro assets have rallied sharply over the past few sessions, fueled by a sequential deceleration in PCE last Friday, a 10% drop in oil futures, and hopes for an ideal economic slowdown. This week will see a string of important data releases, including today’s JOLTS, Wednesday’s ADP and ISM services indexes, and Friday’s nonfarm payrolls.
In terms of the election, former President Trump's chances of winning the election jumped to over 50%. In terms of cryptocurrencies, as the U.S. stock market rebounded and overall risk sentiment recovered, market sentiment has been boosted since last Friday, with BTC challenging $70,000 again and ETH hovering around $3,800.
